Saturday, 15 March 2014

Scopic Clause



The Scopic clause has been introduced after The Nagasaky Spirit in 1999 so as to give salvors an alternative basis of remuneration. Scopic clause follows different criteria than art.13 of the International Convention on Salvage 1989. For the clause operate, it needs to be specifically incorporated into a LOF contract and it has to be invoked by the salvor. Scopic remuneration is calculated by reference to an agreed tariff of rates, it covers the salvor’s out-of-pocket expenses, and an uplift of 25% is applied to be even more profitable to salvors. Furthermore, it applies only when the sum exceeds the amount of the award under art.13.

For a complete exploration of Scopic Clause subject follow: Hill Dickinson. SCOPIC.pdf



0 comments :

Post a Comment